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JAMB Commerce 2013 Question 27

Question 27

Money

Money is generally acceptable for transactions due to

  1. A.the legal backing.
  2. B.the rule of law.
  3. C.it's acceptability in the global market.
  4. D.the Central Bank Governor's signature.
Show the answer and explanation

Answer: A (the legal backing.)

Explanation

Money is legal tender: the law says it must be accepted in payment.